Here are the top business stories in Cyprus from the week starting April 14: Despite facing persistent structural challenges, the Cypriot manufacturing industry continues to demonstrate remarkable resilience in the face of international turbulence, according to the Employers and Industrialists Federation (Oev). Moreover, the organisation has stressed that bolstering the sector’s competitiveness through controlling production […]

The village of Mammari in the Nicosia district is once again breaking with national tradition by lighting its Easter bonfire not on Holy Saturday night, as is customary across Cyprus, but on Easter Sunday instead. Locals gather in the village square to celebrate the Resurrection in their own distinct way, adding a personal touch to […]

The Cyprus Chamber of Commerce and Industry (Keve), in cooperation with the Deputy Ministry of Shipping and the Embassy of the Republic of Cyprus in Helsinki, will organise a business forum and B2B meetings in Helsinki on May 21–22, 2025. According to an official announcement, the events will coincide with the official working visit of […]

The Paphos regional tourism board (Etap) this week said that its digital tourism campaign is exceeding expectations, with the organisation reporting that its goals have already been significantly surpassed. According to an official announcement, “since the launch of the campaign in mid-February, more than five million promotional messages have been distributed across various communication channels”. In addition, it stated that […]

Cyprus has long held an irresistible allure for those in search of a life less ordinary.   With more than 300 days of sunshine a year, turquoise beaches, and a Mediterranean pace that blends leisure with lifestyle, it’s no surprise that the island is fast becoming one of Europe’s most desirable luxury property destinations.  From its […]

The governmental press office on Wednesday announced the official translation and unification of the Republic’s updated constitution into English. The publication will include “a comprehensive, consolidated text of the constitution” including its provisions since it came into operation in 1960 to its most recent 19th amendment, the new constitutional right to a safe, clean, healthy […]

In an era defined by rapid transformation and geopolitical complexity, Cyprus is stepping forward with clarity and purpose to reinforce its position on the global investment map, Invest Cyprus has underlined. In a relevant announcement, Invest Cyprus noted that, “From 3 to 9 April, President Nikos Christodoulides visited New York, Houston, and San Francisco, leading […]

In 2023, roughly two-thirds (67.4%) of all freight transported within the EU territory was by sea when considering the amount of goods and the travel distance (tonne-kilometres), Eurostat has reported, also noting that Cyprus took second place when it came to freight transported by sea. “For 15 out of the 22 EU countries with a coastline, maritime […]

A Cypriot proptech firm is giving the public a chance to buy in, launching its first-ever crowdfunding campaign to support its expansion. Ask Wire, which specialises in real estate data and analytics, is offering shares through the Crowdbase platform, with participation starting at €120. According to the announcement, it is one of the first local […]

Easter occupancy hits 75 per cent The outlook for Cyprus’ tourism sector appears slightly brighter this year, with early bookings for the first half of 2025 showing a better trend than the same period in 2024, according to president of the Cyprus Hoteliers Association (Pasyxe) Thanos Michaelides Speaking to the Cyprus News Agency (CNA), Michaelides said the flow of […]

Demetra Holdings on Thursday reported robust financial results for the year ending December 31, 2024, with net profit for the group reaching €132.46 million, corresponding to 66.23 cents per share. This marks a substantial increase from €86.23 million (43.12 cents per share) in 2023. The company attributed this performance largely to gains from its investment in Hellenic Bank […]

The Bank of Cyprus on Thursday announced a reduction in its reference lending rate by 0.25 percentage points, responding directly to the European Central Bank’s latest rate cut. As of April 23, 2025, the bank’s reference rate on loans linked to the ECB’s main interest rate will decrease from 2.65 per cent to 2.40 per cent. The bank confirmed that […]

Over 200 alien marine species have been recorded in the waters off Cyprus, fisheries department officer Katerina Georgiou said on Tuesday. Speaking to the Cyprus News Agency, she said the two species of fish which “stand out” among those found are the silver-cheeked toadfish and the lionfish. She spoke of the “challenges and prospects of […]

The Cyprus Hoteliers Association (Pasyxe) on Monday reported a strong increase in hotel bookings during the current period ahead of Easter, reflecting heightened demand across the island. Speaking to the Cyprus News Agency (CNA), Pasyxe director general Christos Angelides said there has been “increased activity in hotel bookings in recent weeks due to the coinciding of Orthodox, Catholic and […]

Cyprus’ average monthly salary reached “almost €2,500” last year, Labour Minister Yiannis Panayiotou said on Tuesday. He said the country’s average wage had hovered around €2,000 per month between 2010 and 2021, but that “over the last few years, there has been a clear upward trend”. He added that the same applies to the median […]

Koumis says Cyprus is seeing results from Polish market focus Cyprus continues to attract strong interest from Polish travellers, with 2024 marking an all-time record for arrivals from Poland, according to Deputy Tourism Minister Kostas Koumis. Speaking during promotional events held in Krakow, Poznan and Warsaw between April 7-11, 2025, Koumis confirmed that over 337,000 Polish tourists visited Cyprus […]